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El-Erian: More nervous about 'bad news is good news' bet

Thursday, 14 Aug 2014 | 12:01 PM ET

Allianz chief economic adviser Mohamed El-Erian says this week's "shockingly poor" data out of the U.S. and Europe means the market's need to bet on the fact that the central banks have been their best friend. He discusses what investors are getting wrong.